Jackpot Analysis Arkansas Powerball

Jackpot Analysis for Arkansas Powerball
The jackpot for the Powerball draw on Sat Nov 2, 2024, is projected to be $54 Million, with an option for a cash payout of $25.8 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Arkansas residents, the state will deduct 4.9% from your lottery earnings.

Arkansas Powerball Jackpot/Cash Option for Sat Nov 2, 2024
Draw DateSat Nov 2, 2024
Projected Jackpot$54,000,000
Cash Value$25,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$25,800,000
Federal Tax(24%)$6,192,000
Additional Federal Tax$3,314,330
State Tax(4.9%)$1,264,200
Net Lumpsum Payment$15,029,470
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $812,754 $261,049
$39,825
$511,880
2 $853,416 $276,094
$41,817
$535,505
3 $896,076 $291,879
$43,908
$560,289
4 $940,896 $308,462
$46,104
$586,330
5 $987,930 $325,864
$48,409
$613,657
6 $1,037,340 $344,146
$50,830
$642,364
7 $1,089,180 $363,327
$53,370
$672,483
8 $1,143,666 $383,487
$56,040
$704,139
9 $1,200,852 $404,646
$58,842
$737,364
10 $1,260,900 $426,863
$61,784
$772,253
11 $1,323,918 $450,180
$64,872
$808,866
12 $1,390,122 $474,676
$68,116
$847,330
13 $1,459,620 $500,390
$71,521
$887,709
14 $1,532,628 $527,403
$75,099
$930,126
15 $1,609,254 $555,754
$78,853
$974,647
16 $1,689,714 $585,525
$82,796
$1,021,393
17 $1,774,170 $616,773
$86,934
$1,070,463
18 $1,862,892 $649,600
$91,282
$1,122,010
19 $1,956,042 $684,066
$95,846
$1,176,130
20 $2,053,836 $720,250
$100,638
$1,232,948
21 $2,156,544 $758,252
$105,671
$1,292,621
22 $2,264,382 $798,152
$110,955
$1,355,275
23 $2,377,566 $840,030
$116,501
$1,421,035
24 $2,496,474 $884,026
$122,327
$1,490,121
25 $2,621,268 $930,200
$128,442
$1,562,626
26 $2,752,380 $978,711
$134,867
$1,638,802
27 $2,889,972 $1,029,620
$141,609
$1,718,743
28 $3,034,476 $1,083,087
$148,689
$1,802,700
29 $3,186,216 $1,139,230
$156,125
$1,890,861
30 $3,345,516 $1,198,171
$163,930
$1,983,415